Then came the pandemic. As governments closed down businesses and handed out money to people unable to work, central banks embarked on the most exorbitant money creation programs in history. Much of that money found its way into crypto markets, raising prices to unprecedented levels and fueling the rapid growth of high-yield lending, complex synthetic assets and toxic derivatives of a kind last seen before the 2008 financial crisis. While the real economy was shut down, there was a cryptocurrency feeding frenzy. Pension funds, hedge funds, software companies, football clubs and celebrities all got in on the act, and many ordinary people made life-changing amounts of money.
Related posts
-
Is The Bitcoin Bottom In? Crypto Expert Predicts Bullish Price Reversal
A crypto expert has predicted a bullish price reversal for Bitcoin, the world’s largest cryptocurrency. The... -
Crypto Trader Says He’s ‘Extremely Long’ On Ethereum, Undeterred By Crash Below $3,400
Crypto trader Duncan has explained why he is “extremely long” on Ethereum (ETH) despite the crypto... -
U.S. Treasury Issues Crypto Tax Regime For 2025, Delays Rules for Non-Custodians
The IRS said it tried to avoid some burdens on users of stablecoins, especially when used...